Multiple Choice
A $4,000 payment has to be made 3 years from now and another $6,000 payment 5 years from now. Using the financial functions on the calculator, determine what lump sum payment 40 months from now will be equivalent to these two payments if interest is 5.2% compounded quarterly.
A) $11,654.38
B) $11,253.35
C) $9,574.45
D) $9,224.69
E) $8,62.74
Correct Answer:
Verified
Correct Answer:
Verified
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